Hi everyone I know I am a couple of weeks late with this post my apologies I have been busy with work and the World Cup has caught my attention. Today I am focused on finishing this post to give you guys a look at my financials to see if they have improved or declined from April.
May was a quiet month for me which is a positive. I did not make big purchases. One thing to mention about my employment at the end of May I got hired on as a part-time employee with my employer which is a step up from being classified as a supply custodian. I mention this because as a part-time employee I have 20 hours per week that is mine, on top of this my boss as placed me in a long term placement which gives me an additional 17.5 hours per week for a total of 37.5. This affects my finances because I now get paid every week which is kind of neat.
Let’s get to the numbers shall we!
All numbers are as of May 31, 2018
May | April | Change | |
Cash & Savings | $6,074.21 | $5,312.87 | $761.34 |
Investments | $121,492.82 | $120,214.00 | $1,278.82 |
Car | $14,282.00 | $14,282.00 | $0.00 |
Liabilities | $9,984.57 | $10,854.79 | -$870.22 |
Cash & Savings (+$761.34)
May | April | Change | |
Car Account | $1,316.38 | $911.61 | $404.77 |
Cash | $454.92 | $559.96 | -$105.04 |
Emergency Fund | $4,302.91 | $3,841.30 | $461.61 |
May was a good month for my savings, I was able to add more to my car account and emergency savings. I would like to eventually get my emergency fund up to $10,000 I don’t have a fixed deadline for this (maybe 2019??). In my April net worth post I mentioned that I would make an extra payment on my car loan well I delayed that until June.
Investments (+$1,278.82)
May | April | Change | |
Locked in RRSP | $4,095.99 | $3,948.00 | $147.99 |
TFSA | $30,175.75 | $29,195.00 | $980.75 |
RRSP | $87,221.08 | $87,071.00 | $150.08 |
My investments saw a nice bump in May. This growth came from fresh capital that I deployed in the month and through dividends received ($369.72). One small concern I have is that my RRSP account didn’t grow. Above it says it grew by $150.08 but I received $200.33 in dividends without that I would have lost $50. I may need to take a look at my account and see if I need to make some changes.
Car ( $14,282.00)
I currently own a 2015 Hyundai Elantra GLS and according to Canadian Black Book the value of the car is now $14,282.00. I check this every three months.
Liabilities (-$870.22)
May | April | Change | |
Credit Card | $97.54 | $670.86 | -$573.32 |
Car | $9,887.03 | $10,183.93 | -$296.90 |
My liabilities declined nicely in May, I was able to pay off my balances that I had at the end of April. I have a small amount on my cards at the end of May. Also I made my regular two monthly payments on my car.
Net Worth
Yay I surpassed $130k. When you put all the numbers together May was the second best month of 2018 for me my net worth increased by $2,910.38.
How did you guys do in May?? I hope it was positive. I promise that my June post will be done more quickly 🙂
Thanks for reading I appreciate your support.
Matthew
Yeah!!! Good job Matthew what a great month for your NW!
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Thank you I was really happy to it grow by close to $3k.
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Hey Matt
Congrats on a getting more hours, steady income is key to long term financial freedom!
What is your long term goal for housing? Are you looking at buying a house/condo – staying where your at? Renting?
Just curious – if no plans to buy a house, probably don’t need to sit on so much cash (unless you are holding it for when the market inevitably crashes..haha)
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Hey buddy I don’t currently have a plan per say. At some point I would like to move out and get a place of my own. Over the years I have been laser focused on investing my money that is why cash is so slow. Now I think I will slowly balance my money my saving it in cash and investing. Heck if the market does crash I could always use that money to invest 🙂
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Congratulations, what a great month. I love the cash savings increase.
Keep it up!
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Thank you. Hopefully it will continue to grow and grow.
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Keep it up, Even i check for my networth privately ,but i havent shared it and doesnt include the Car,etc
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Thank you. Hopefully your net worth is growing as well.
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yes i started tracking it in early 2016 and i am seeing it grow 1% Last month
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Congrats with the nice progress in NW. Sometines you’re up, sometimes you’re down. Most important is the longer trend.
Good luck at work!
👍
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Thank you 🙂
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Hey Matthew,
Congrats! – 130k is awesome and when i look at your chart i see a steep upward trend. Keep going!
May was positive for me as well – a new dividend income record with 848$…and i’m watching the world cup of soccer at the moment. A lot of teams can win. Do you have a favorite team?
Greets,
DividendSolutions
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You had another great month! Congrats about your increase in work hours and also paying off liabilities while increasing your net worth. All good stuff!
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Thank you 😊
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Congrats on the growth:)
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Thank you hopefully I can continue growing it every month.
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I love reading net worth posts like this Matthew. Thanks for sharing. I keep saying that I want to publish a post like this but still haven’t. At some point down the road I will. Until then I’ll live vicariously through the bloggers that do share their net worth. Your allocation is looking fantastic. Keep it up!
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Thanks. Thank you for reading the post. I look forward to reading that post one day. 😀
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woot woot nice man.
good stuff all across the board. keep it up.
cheers
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Thank you sir. I hope I can keep it going.
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Keep up the good work Matt! Investments going up, debts going down! That’s a good recipe!!
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